27 articles found
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The move to ditch OPEC and the expanded OPEC+ group will allow the UAE to produce as much or as little crude as at wishes after decades of following a quota system instituted by the group, potentially providing a windfall of cash to the country.
25 DAYS AGO

UAE’s OPEC exit ends a 58-year membership and challenges the group’s unity, founded in 1960 to counter Western oil giants, OPEC later expanded into OPEC+ but now faces weaker control over supply and prices.
A MONTH AGO

The UAE announced it will leave OPEC and OPEC+, citing national interests and long-term strategy, as Gulf oil shipments face disruption from Iran’s blockade of the Strait of Hormuz.
A MONTH AGO

South Korea will receive 18 million barrels of oil from the UAE through multiple channels, bypassing the Strait of Hormuz amid the US-Israel war on Iran, while securing emergency purchases and using strategic reserves to stabilize fuel supplies.
2 MONTHS AGO
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Donald Trump says Iran’s next supreme leader would need US approval to remain in power, drawing a sharp response from Tehran as clerics finalize a successor to Ayatollah Ali Khamenei after the US-Israeli strikes that killed him.
3 MONTHS AGO

Expresses concern over recent attacks in the region, including those targeting the UAE, and conveyed Pakistan’s solidarity with the UAE and its people.
3 MONTHS AGO

The ministry stresses the importance of reason and diplomacy in resolving disputes, reaffirming the UAE’s support for initiatives aimed at strengthening security, stability and development for both nations.
3 MONTHS AGO

Russia said US-brokered talks with Ukraine in the UAE yielded no breakthroughs, with more work ahead, as both sides confirmed discussions would resume Feb 1 amid continued drone and missile attacks overnight.
4 MONTHS AGO

The visit, scheduled for Jan. 26–29, will include meetings with the UAE leadership to review bilateral ties and discuss issues of mutual regional and international interest.
4 MONTHS AGO